Johari Ghani: Malaysia to strengthen FTAs, deepen ties with Türkiye

Johari Ghani: Malaysia to strengthen FTAs, deepen ties with Türkiye

ISTANBUL: The working visit to Türkiye is part of Malaysia’s strategic efforts to reassess and strengthen the implementation of concluded Free Trade Agreements (FTAs), a senior minister said.

Investment, Trade and Industry Minister (MITI) Datuk Seri Johari Ghani said this is in line with changes in the global economic landscape, which is increasingly inclined towards protecting domestic markets.

To date, Malaysia has signed 17 FTAs, comprising nine multilateral and regional agreements and eight bilateral agreements, including with Türkiye.

According to him, the approach adopted by countries worldwide is now becoming increasingly “inward-looking”, with protectionist policies as a key focus.

As such, he said Malaysia cannot merely rely on existing agreements without maximising their benefits.

DISYORKAN UNTUK ANDA :

PAU 2025: Penentu Hala Tuju UMNO Menjelang PRU16 – Sollehin

“We need to visit countries that have signed FTAs with Malaysia to assess what benefits they have gained from us and vice versa. My aim is to intensify this cooperation because all countries are now placing greater emphasis on domestic interests,” he told Buletin TV3 in Istanbul during Prime Minister Datuk Seri Anwar Ibrahim’s official visit to Türkiye.

Johari said that the visit to Türkiye is an initial step to assess the effectiveness of the FTAs that have been signed, including identifying why bilateral investment and trade have yet to reach their full potential.

“We have signed an FTA, but why have we not seen balanced investment or trade flows? Why does our trade flow more towards them, but not the other way around? There may be constraints in terms of capacity or capability, and that is where the opportunities lie,” he said.

Johari also said the importance of engaging directly with the business community to hear the real issues they face, in addition to building trust among trading partners to facilitate economic expansion.

Every effort to strengthen FTAs must be accompanied by the involvement of small and medium enterprises (SMEs), as the sector is the backbone of the country’s economic strength, he said.

DISYORKAN UNTUK ANDA :

UMNO Tidak Perlu Skeptikal Perjuang Agama, Bangsa Dan Negara

“We do need large companies in certain industries such as new technology and artificial intelligence (AI), but our real strength lies in how we develop SMEs and enable them to penetrate the markets of FTA partner countries,” he said.

Johari said that the Malaysia External Trade Development Corporation (Matrade) plays an important role in bringing SMEs into international markets each year, but the contribution of SMEs to gross domestic product (GDP) still needs to be increased.

“At present, SMEs’ contribution to GDP is only about 39 per cent, an increase of just two per cent from 37 per cent ten years ago, even though the country’s GDP grew by nearly 68 per cent over the same period to RM1.9 trillion. This is something we need to take seriously,” he said.

Johari said Türkiye is the first country in a series of FTA reviews, before Malaysia considers other countries to ensure that every agreement signed genuinely contributes to inclusive and sustainable national economic growth.